Downturn drives ‘surge in con artistry’

Share via

Old-fashioned con artistry is making a comeback, according to the latest
‘fraud barometer’ survey from KPMG, the accountants.

The snapshot of fraud cases worth more than £100,000 that were tried in the UK
Crown Courts last year, highlighted a resurgence of traditional scams such
as identity fraud and Ponzi schemes, as well as a marked rise in benefit
fraud and tax evasion.

Specifically, the analysis indicated that identity fraud more than doubled in
value to £26.3 million from £12.3 million in 2011. Meanwhile, Ponzi schemes
worth £72 million came to court – three times the level seen the previous
year.